Latest Key Developments (Source: Significant Developments)

Nov 28 (Reuters) - Lloyds Banking Group Plc ::BANK OF ENGLAND 2017 STRESS TEST PASSED.‍GROUP IS NOT REQUIRED TO TAKE ANY CAPITAL ACTION AS A RESULT OF THIS STRESS TEST​.‍LLOYDS BANKING GROUP PASSES BANK OF ENGLAND 2017 STRESS TEST​.
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Oct 12 (Reuters) - Lloyds Banking Group Plc ::ACQUISITION OF ZURICH PENSIONS & SAVINGS BUSINESS.‍ENTERED INTO AN AGREEMENT WITH ZURICH TO ACQUIRE ITS UK WORKPLACE PENSIONS AND SAVINGS BUSINESS WITH ASSETS UNDER ADMINISTRATION OF 19 BILLION STG​.‍ACQUISITION IS EXPECTED TO PARTIALLY CLOSE IN Q1 OF 2018​.
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Lloyds Banking Group Plc : Simon Henry, independent non-exec director, will succeed Nick Luff as chairman of audit committee with effect from May 1, 2017 .Luff will remain on board until annual general meeting on May 11, 2017.
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Lloyds Banking Group Plc : Operating costs 3 per cent lower at £4.0 billion driven by acceleration of cost initiatives. Market-Leading cost:income ratio improved to 47.8 per cent . Outlook for UK economy is uncertain and, while precise impact is dependent upon a number of factors, including eu negotiations and political and economic events, a deceleration of growth seems likely . Impact on group of referendum is dependent on economic and political outcomes which remain uncertain, however we now expect to generate around 160 basis points of cet1 capital in 2016 pre dividend . It is possible that this capital generation may be somewhat lower in future years than previously guided . We expect clarity soon on fca consultation into a proposed time-bar for ppi complaints . In addition, we are targeting a c.30 per cent reduction in our non- branch property portfolio by end of 2018. . Underlying profit of £4.2 billion was 5 per cent lower than same period last year . In 2016 we now expect to generate around 160 basis points of cet1 capital pre dividend, due to impact of eu referendum . No further provision has been taken for ppi . Impaired loans at 30 june 2016 were £9.3 billion, 2.0 per cent of total loans . There was a charge of £460 million to cover a range of conduct issues of which £345 million was recognised in q2..
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Lloyds Banking Group Plc : Enhanced capital notes - Supreme Court decision . Court held that a Capital Disqualification Event (CDE), as defined in conditions of ECNS, has occurred .Supreme court has today handed down its decision in respect of interpretation of certain terms of Enhanced Capital Notes (ECNS)and found in group's favour.
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Lloyds Banking Group PLC:Lloyds Banking Group is cutting 1,755 jobs and closing 29 branches as part of a plan by its chief executive, António Horta-Osório, to cut costs as he prepares the bank for privatisation. - Guardian.Staff at Britain’s biggest retail bank were told about the job losses, which cover large parts of the group, on Wednesday, but union officials said they hoped that the reductions could be achieved by voluntary means - Guardian - Guardian.The posts that are being axed are part of the 9,000 job cuts announced by Horta-Osório in 2014, when he said that a need to “digitise” the business would also result in the closure of 200 branches - Guardian.According to officials at the Accord union, which has 23,000 members, about 60% of those cuts have now been announced - Guardian.Lloyds, which operates under a number of brands, will close 19 Lloyds, seven Bank of Scotland and three Halifax branches in June. The bank employs about 77,000 people and has more than 2,000 branches - Guardian.
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Lloyds Banking Group PLC:Britain's Financial Conduct Authority has begun a preliminary investigation into whether a trader at Lloyds Banking Group tried to manipulate the market for UK government bonds, a source familiar with the matter said. - RTRS.Spokespeople at Lloyds, still 9 percent-owned by the British taxpayer, declined to answer questions on whether there was a probe or on the number of staff linked to any such investigation. - RTRS.News of the probe comes as a blow to Britain's biggest provider of current accounts and mortgages, which has invested millions of pounds in rebuilding its reputation among customers since its 20.5 billion pound ($29.9 bln) bailout in 2008 - RTRS.It also casts a pall over final preparations by Britain's finance ministry to sell its remaining stake via a widely anticipated share offer to the general public this year. - RTRS.The government said in October it would sell at least 2 billion pounds of Lloyds shares to private retail investors in one of the largest privatisations of a state-backed company since the 1980s. - RTRS.The Wall Street Journal first reported the investigation into possible gilts market manipulation on Wednesday. - RTRS.
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